Media report Butcher and his brother, C.H. Butcher Jr., built their father”s banking business in Clinton into a multi-million-dollar financial network that included United American Bank. Federal agents padlocked the doors of the bank in 1983 and ultimately a slew of banks with deposits that totaled more than $1 billion failed.

The brothers pleaded guilty to federal charges of conspiracy and bank fraud and both served time in prison before being paroled.